The pankaj has completed his BBA. Now he wants to do something instead of doing a job so that he can give employment to some people himself. After condution of market survey and getting the opinion of an expert , he decided to do wholesale business of "MOBILE PHONE"made with morden technology. (a) which economic action is pankaj going to do
Answers
Explanation:
Techniques of scientific management used by Sandhya to solve the problem were:
(i) Motion Study
- Meaning : It is technique to study the movements that are necessary for doing a well defined job.
- It seeks to eliminate unnecessary and wasteful movements so that it takes less time to complete a job efficiently.
(ii) Time Study
- Meaning : It is a technique to determine the standard time taken by a worker of reasonable skill and efficiency to perform a well-defined job.
- It helps in deciding the number of workers to be employed, frame suitable incentive scheme and determine labour costs.
(iii) Simplification of Work
- Meaning: It is technique to eliminate superfluous varieties, sizes and dimensions of products.
- It leads to reduced inventories, fuller utilization of equipment and increased turnover to reduce costs.